Two-Family Duplex with Separate
10 Essex Court Lynn, MA 01902
10 Essex Court, Lynn, MA, 01902
$575,000
For Sale
$575,000
Two attached units each feature two bedrooms and one full bath, with separate utilities for flexible occupancy.
Property Size1,776 SF
Price / SF$323.76
Days on Market63
Property Features for 10 Essex Court
General Information
- Standard status
- Active
- Size
- 1,776 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency
Keller Williams Gateway Realty
Listed by
Jillian Aziz
(781) 797-4028
Source
Thepropernest
Added: May 15 Checked: Jul 15 at 7:33 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Gateway Realty
Investment Insights
Based on property information with market context.
This two-family duplex offers a practical layout designed for either investor ownership or owner-occupancy. The property includes two separate units, and each unit features 2 bedrooms and 1 full bathroom. Separate utilities are provided, which can simplify billing and day-to-day management compared to shared metering. The building is described as well-maintained, with functional living spaces throughout.
The home is located in the heart of Lynn, with convenient access to everyday needs. The public remarks note proximity to shopping, restaurants, public transportation, and major routes, supporting easy commuting and tenant convenience.
For tenants, the configuration provides straightforward, self-contained unit living with two-bedroom flexibility in each unit. For buyers, the setup supports multiple occupancy scenarios, including renting both units or living in one unit while leasing the other. The combination of separate utilities and matching unit layouts may help streamline operations for an owner managing the property as a residential income asset.
The home is located in the heart of Lynn, with convenient access to everyday needs. The public remarks note proximity to shopping, restaurants, public transportation, and major routes, supporting easy commuting and tenant convenience.
For tenants, the configuration provides straightforward, self-contained unit living with two-bedroom flexibility in each unit. For buyers, the setup supports multiple occupancy scenarios, including renting both units or living in one unit while leasing the other. The combination of separate utilities and matching unit layouts may help streamline operations for an owner managing the property as a residential income asset.
Key Highlights
- Two‑family property in Lynn built in 1900
- Each unit has 2 bedrooms and 1 full bathroom
- Separate utilities for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.3k | $30.60 |
| − Vacancy | −$3.4k | −$1.89 |
| EGI | $51.0k | $28.71 |
| − OpEx | −$15.3k | −$8.61 |
| NOI | $35.7k | $20.10 |
1,776 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$509.9K
$446.2K – $594.9K
NOI $35,695 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$443.1K
$387.7K – $516.9K
NOI $31,016 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$628.4K
$549.9K – $733.1K
NOI $43,988 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two attached units each feature two bedrooms and one full bath, with separate utilities for flexible occupancy.
Where is this duplex located?
The property is located at 10 Essex Court Lynn, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑family property in Lynn built in 1900; Each unit has 2 bedrooms and 1 full bathroom; Separate utilities for each unit
